No business is able to enjoy sustained success without building lasting relationships with its customer. Customer retention is crucial for providing a solid base and continuous sales, plus when you are able to form lasting relationships with your target customer then you are more likely to benefit from word of mouth marketing and build a positive reputation to attract more customers.
Here are 5 ways that you can start building lasting relationships with your customers today.
1) Individual & Personalised Treatment
Customers want to feel valued and special when they use a business, which means the individual and personalised treatment is one of the most effective ways to build relationships and encourage repeat business. You can do this by using their names in communication, keeping track of their order history and recommending products/services based on previous purchases and small things like including a handwritten thank you note with each order.
2) Exceed Expectations & Go the Extra Mile
Another smart way to build lasting relationships is to exceed expectations and go the extra mile. It is incredibly frustrating when a business takes a long time to reply and appears to be doing the bare minimum, which is why you can differentiate your brand by making them a priority. This will involve handling any issues swiftly and promptly, including full transparency and making up for any mistakes (such as with a discount code).
3) Handle Negative Feedback Well
Following this point, it is also important that you are able to handle negative feedback well and turn failure into success. When you receive constructive criticism from a customer, your initial response might be to defend yourself, but this could tarnish your reputation and end the relationship. Instead, you need to collect feedback, learn from your mistakes and remember that the customer is always right.
4) Loyalty Programs
A loyalty program is an intelligent way to build lasting relationships, encourage people to continue using your business and build a large customer base. When customers are rewarded for your business, it will create a bond between you and you can also learn more about them based on their order history – this will help you to improve your personalised treatment as outlined in point 1.
5) Understanding Customer Values
A smart business will also have a clear understanding of their target customer’s values, wants, needs likes and dislikes. This will allow you to provide the best possible experience and one which aligns with their own values, which will help you to build lasting relationships and improve your reputation. As an example, if your target customer is from a younger generation then they might prefer digital forms of communication, so live chat and chatbots can be useful, whereas those from older generations may prefer the option to speak to someone by phone.
These are 5 of the most effective ways that you can start to build lasting relationships with your customers. This needs to be a priority for businesses as customer retention is so important for continued success and improving the reputation of your brand.